GRAND PRAIRIE — NorthMarq Capital has arranged the $13.9 million mortgage for Clairborne Apartments, a 274-unit multifamily property in Grand Prairie. The apartment is located at 2355 N. State Hwy. 360. Financing is based on a 10-year term with a 30-year amortization schedule. Greg Duvall of NorthMarq’s Kansas City office arranged the first mortgage financing through NorthMarq’s relationship with Freddie Mac.
SAN ANTONIO — Holliday Fenoglio Fowler (HFF) has arranged acquisition financing for a 612-unit Class A multifamily community in San Antonio. HFF, led by Cortney Cole, worked on behalf of Canyon-Johnson Urban Funds and its joint venture equity partner Venterra Realty to secure the loan through PPM Finance, Inc. The property is comprised of 27 three-story buildings situated on 27.47 acres at 3711 Medical Dr.
KYLE — Physiotherapy Associates has opened a new 1,450-square-foot clinic at 147 Elmhurst, Ste. 500 in Kyle called the Strickland Physical Therapy clinic. The clinic offers sports injury rehabilitation, spinal rehabilitation, injury prevention and sports medicine. Clinic director Sarah North will lead the clinic team. Jones Lang LaSalle brokered the opening.
AUSTIN — New York-based ATCO Properties & Management has purchased the 99,000-square-foot Crossroads Center in Austin for $14.25 million. The shopping center is 70 percent leased to tenants Bennihana, Chili’s and Cycle Gear. Lance Morris of The Weitzman Group represented Crossroads and Ryder Jeans of Weitzman represented ATCO in the transaction. Crossroads is the latest purchase in ATCO’s City Center Real Estate Joint Venture Program.
HOUSTON — Houston-based Whitestone REIT has sold the 20,607-square-foot Greens Road Plaza in northeast Houston for $1.75 million in an all-cash transaction. Whitestone expects to reinvest the proceeds in acquisitions of Community Centered Properties in Texas, Arizona and Illinois.
SAN ANTONIO — Dallas-based Stream Data Centers has sold its 150,000-square-foot San Antonio Ready-to-Fit data center to a Fortune 100 company. Brian Loewen of Newmark Knight Frank represented the buyer and Paul Moser, Rob Kennedy and Anthony Bolner represented Stream Data Centers in house. The facility sits on 33 acres in Westover Hills in San Antonio. The building consists of 8-inch-thick concrete walls and a concrete ceiling system that can withstand 175 miles per hour winds.
COLLEGE STATION — Marcus & Millichap Real Estate Investment Services has secured the exclusive listing for the Warehouse at Northgate and the Factory at Northgate, a two-building student housing community at 405 Cross St. in College Station near Texas A&M University. The portfolio is comprised of 154 units with Warehouse’s units running 1,082 square feet and Factory’s units averaging 712 square feet. Joe James and Kent Myers of Austin’s Marcus & Millichap office represented the seller, a developer based in Houston.
HOUSTON — Strategic Capital Partners has partnered with Houston-based American Realty Investors (ARI) to acquire Spring Meadows, a 304-unit multifamily complex in Houston. The partnership invested around $3.1 million of equity and received a bridge loan for the approximately $2.8 million renovation. ARI owns two properties neighboring Spring Meadows.
SAN ANTONIO — Meridian Design Build has completed the construction of a 93,500-square-foot Staybridge Suites hotel located in San Antonio for Montex Real Estate. The hotel is five stories with 135 suites, a 31,500-square-foot underground parking garage and a 10,000-square-foot activity deck. Joe Blanchard and Jim Cather coordinated construction efforts for Meridian. Roswell, Ga.-based Dellisart will manage the hotel, which is an InterContinental Hotel Group brand.
DALLAS — The Dallas office of Grubb & Ellis Co. has recently completed the following lease transactions in the Dallas area: InternetBusinessGroup.com Inc. has leased 26,673 square feet of office space in Westpoint 1 at 1255 Corporate Dr. from Daymark Realty Advisors Inc. Russ Johnson and Noreen Mehdi of Grubb & Ellis represented InternetBusinessGroup.com, and Noran Hogan, Alan Harrington, Robert Deptula and Natalie Snyde of Transwestern represented Daymark. Mixed4Media Inc. has extended its lease from Kodiak Capital Management Co. for 7,495 square feet of office space in the Country Club Plaza at 1701 Legacy Dr. Heather Densmore Shover and Mehdi of Grubb & Ellis represented Mixed4Media and Kodiak were self-represented. Management Decisions-MDI Inc. has leased 2,297 square feet of office space from Kodiak in the Country Club Plaza. Shover and Mehdi of Grubb & Ellis represented Management Decisions-MDI, and Stephen Holley of Jones Lang LaSalle represented Kodiak. Bridgemetrics has leased 3,023 square feet of office space in Country Club Plaza from Kodiak as well. Densmore and Mehdi represented Bridgemetrics, and Damian Rivera of Stream Realty Partners represented Kodiak.
